EU leaders will discuss gas price cap for power generation, Michel says

 

BRUSSELS (Reuters) - European Union leaders will discuss putting a cap for the price of gas used to generate electricity - over which member states are divided - when they meet for a summit at the end of this week, European Council President Charles Michel said on Tuesday.

"We must intensify our three lines of action: reducing demand, ensuring security of supply and containing prices," Michel said in his invitation letter to leaders for the Thursday-Friday meeting in
Brussels.

"This includes: jointly purchasing gas, developing a new benchmark that more accurately reflects conditions on the gas market, and examining a temporary dynamic price limit," Michel said.

"I also expect us to address other short and long-term market interventions, such as an EU framework to cap the price of gas for electricity generation."

(Reporting by Bart Meijer and John Chalmers)